Nebraska

A bill that would allow Nebraska to issue bonds for highway construction advanced last week despite an eight-hour filibuster aimed at derailing the measure.

Moody's downgraded Omaha's convention hotel to A1, warning that the city may be forced to step in to cover rising debt payments.

Nebraska will consider issuing bonds for highway projects for the first time in decades.

Nebraska Gov. Dave Heineman said the state has recorded a record-high cash reserve and that he will push lawmakers to pass $500 million in tax cuts this year.

Bondholders owed nearly $20 million will be paid $50,000 in a bankruptcy settlement plan for the Great Platte River Road museum archway in Nebraska, a colossal financial failure.

Omaha, Neb. lost its prized triple-A rating from Standard & Poor's and saw a negative outlook revision from Moody's due to the city's large unfunded pension obligation.

Moody's Investors Service last week downgraded nearly $1.9 billion of debt issued by Omaha Public Power District amid the district's ongoing problems with its nuclear plant.

Rising interest rates and lagging economic growth sidelined borrowers in the Midwest where issuance dipped by 12% to $34 billion during the first half of 2013 compared to the same time last year.

With income taxes boosting state revenues across the Midwest, Ohio, Nebraska and North Dakota all expect to have record-high rainy day funds heading into a new fiscal year.

Moody's Investors Service warned it may downgrade the Omaha Public Power District, one of the country's highest-rated utility, as the OPPD struggles to bring its nuclear plant back online amid increased federal regulatory scrutiny.

Fitch Ratings last week downgraded to BB-plus from BBB-minus $30 million of revenue bonds issued for Beatrice Community Hospital.

A trio of Midwestern governors have proposed dramatic income-tax cuts — which could impact demand for their state bonds — but are meeting opposition from GOP-led state legislatures.

Fitch Ratings last week affirmed its B rating on Midland University and revised its outlook to stable.

Refunding opportunities fueled a 36.3% surge in bond issuance among Midwestern borrowers last year as the steadfastly conservative region shied away from adding new debt in favor of shoring up balance sheets.

Nebraska lawmakers last week heard hours of testimony – most of it critical – on Gov. Dave Heineman's plan to eliminate the state's income tax and replace it with a broader sales tax base.

Gov. Dave Heineman last week announced an agreement between the University of Nebraska and Nebraska State College System that would allow for a two-year tuition freeze and increase state funding for the schools

Moody's Investors Service last week lowered its rating on Omaha's special tax revenue bonds to Aa2 from Aa1 following its downgrade of the city's general obligation rating to Aa1 from Aaa last month.

The Nebraska Public Power District, which operates one of the state's two nuclear plants, hits the market Tuesday with $211 million, marking its second deal this year for capital projects at the plant.

The Internal Revenue Service has told the Nebraska Public Power District that $10 million of the $50.36 million of Series A Build America Bonds it issued in June 2009 do not qualify for the 35% subsidy payment it receives from the U.S. Treasury.

Great Platte River Road Archway Monument in Nebraska museum, showcasing America's pioneer history, defaulted this month on $20 million of capital appreciation bonds, the latest in a series of defaults on $60 million of debt issued in 1998 that the museum has never had enough money to service.